Coldwell Banker Gosslee

Coldwell Banker Gosslee

The Market at a Glance


September 2018
Posted: October 22, 2018 by Sheryl Garcie

September Market Overview
Shreveport/Bossier, LA – (Caddo, Bossier, Desoto Parishes only)


September Summary:  Sales were average.  Average price was down.  Inventory declined.

Sales:   September was an average month for home sales.   There were 358 sales this September which is right at the 5 year average for September of 357.   This was down however from the 376 sales we had last year in September.  The decline was spread pretty evenly across all price ranges except for the $300k—$400k segment that was up slightly versus last year.  Overall, this puts sales year to date up +7% compared to last year.  Looking at the chart below, you will see that all price segments are up versus last year except the Over $500k segment which continues to struggle.  The Over $500k market remains at the highest monthly supply we have ever seen on record.  When you look at Caddo vs Bossier you will see that Caddo is primarily up in the Under $200k market and now surprisingly up in the $400k—$500k segment, while Bossier is selling more houses in the $200k—$400k range.   Sales Over $500k continue to be down in Caddo this year, but there are still significantly more total sales in Caddo in this upper price segment than in Bossier.  

Unit Sales YTD by price range vs. last year:

Inventory:   Listing inventory peaked back in July and is now in the seasonal decline we see each fall.  There are now 2,153 homes available on the market versus 2,247 last month and 2,260 at this time last year.  With 358 homes sold in September and 2,153 currently on the market, the Monthly Supply of homes (using the 12 month trailing average) dropped slightly to 5.5 from 5.7 last month.   Last year at this time the monthly supply was 6.1.  At first glance, this is an overall good balance of buyers and sellers since the target is a 6.0 month supply.  However, for homes priced $400k—$500k and Over $500k, we are still deep into a buyer’s market as there are far too many luxury homes on the market for the amount of homes that are selling each month.  Due to an increase in inventory and fewer sales, the current monthly supply in the $400k—$500k segment rose to 13.4 versus 12.4 last month and the Over $500k segment rose to 26.6 versus 24.6 in August.

Prices:    The Average Home Price in September was $180,716 versus $192,615 last month and $187,494 last year.    On a price per square foot basis, sale prices this September averaged $91.93 per sq.ft. versus $95.56 last month and $95.02 last year.  Year to date, the average sale price is now $182,786 versus $184,010 last year and the average price per sq.ft. is now $93.08 versus $93.14 last year.


September 2018 Comparative Market Statistics
Shreveport/Bossier, LA – (Caddo, Bossier, Desoto Parishes only)




September 2018 Absorption Rates
Shreveport/Bossier, LA – (Caddo, Bossier, & Desoto Parishes Only)


The following figures are through the month of September 2018

 

Currently, there are 2153 total homes for sale in Shreveport/Bossier.

Over the last 12 months, 394 homes have sold per month on average.

That’s a 5.5 month supply of homes if no more homes come on the market.

Last month 557 homes came on the market.

 

Currently there are 423 homes priced below $100,000 for sale in Shreveport/Bossier.

Over the last 12 months, 96 homes have sold per month on average in this price range.

That’s a 4.4 month supply of homes if no more homes come on the market.

Last month 123 homes came on the market in this price range.

 

Currently there are 698 homes priced between $100,000 and $199,999 for sale in Shreveport/Bossier.

Over the last 12 months, 160 homes have sold per month on average in this price range.

That’s a 4.4 month supply of homes if no more homes come on the market.

Last month 214 homes came on the market in this price range.

 

Currently there are 491 homes priced between $200,000 and $299,999 for sale in Shreveport/Bossier.

Over the last 12 months, 91 homes have sold per month on average in this price range.

That’s a 5.4 month supply of homes if no more homes come on the market.

Last month 126 homes came on the market in this price range.

 

Currently there are 245 homes priced between $300,000 and $399,999 for sale in Shreveport/Bossier.

Over the last 12 months, 30 homes have sold per month on average in this price range.

That’s an 8.0 month supply of homes if no more homes come on the market.

Last month 47 homes came on the market in this price range.

 

Currently there are 130 homes priced between $400,000 and $499,999 for sale in Shreveport/Bossier.

Over the last 12 months, 10 homes have sold per month on average in this price range.

That’s a 13.4 month supply of homes if no more homes come on the market.

Last month 27 homes came on the market in this price range.

 

Currently there are 166 homes priced above $500,000 for sale in Shreveport/Bossier.

Over the last 12 months, 6 homes have sold per month on average in this price range.

That’s a 26.6 month supply of homes if no more homes come on the market.

Last month 20 homes came on the market in this price range.

Important Note: A 6 month supply is considered to be a balanced market. 
Under 6 months is a seller’s market. 
Over 6 months is a buyer’s market.

Data Source: Northwest Louisiana Association of Realtors MLS, Inc 10/15/2018
Author: Brad Gosslee of Coldwell Banker Gosslee 
Information believed to be accurate but not guaranteed.

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